Forex analysis - 2025-02-24 (22:00)

Forex data GBP/USD
Date : 2025-02-24
Opening : 1.26500
Higher up: 1.26905
Below: 1.26117
Closing : 1.26220

Economic news :
World Markets Trade On A Mixed Note
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Detailed analysis:
### Complete Forex Market Analysis - GBP/USD

#### 1. **Current trend:**
The GBP/USD pair has shown a downward trend over the course of the day, opening at 1.26500 and closing at 1.26220. Price levels indicate moderate volatility, with a high of 1.26905 and a low of 1.26117. Closing below the opening level suggests stronger selling pressure than buying.

#### 2. **Impact of Economic News:**
Although the economic news mentioned focuses on the stock market and opportunities to invest in cheap equities, it can indirectly influence Forex. Mixed global equity markets may indicate global economic uncertainty, causing investors to reposition themselves, potentially in favour of safe havens such as the US dollar. This could partly explain the fall in the GBP/USD pair.

#### 3. **Technical analysis:**
- **Supports and Resistances:** The immediate support level is around the low at 1.26117. Immediate resistance is at today's high of 1.26905.
- The short-term moving averages, if available, should be observed to confirm the downtrend.
- Indicators such as the RSI could be close to the oversold zone, suggesting a possible upward correction if selling pressure eases.

#### 4. **Short-term forecast:**
- Bullish scenario:** If the support level at 1.26117 holds and economic conditions improve or if the US dollar weakens, the pair could rebound towards resistance at 1.26905.
- Bearish scenario:** A break below support at 1.26117 could lead to further downside, potentially targeting levels of 1.26000 or even lower if selling pressure intensifies.
- Factors to watch:** Investors should monitor major economic developments, particularly those related to UK and US monetary policy, as well as global economic news that could influence market sentiment.

In conclusion, although current analysis suggests a bearish trend for GBP/USD, market conditions remain subject to rapid change in response to economic and geopolitical developments. Traders should remain vigilant and adjust their strategies accordingly.